Copper prices on the London Metal Exchange have risen to the highest level in almost a week.
According to the Standard Chartered Bank Daily brief, this follows an unexpected rise in demand for the commodity in China which is the world’s largest consumer of copper.
China’s official manufacturing data, unexpectedly strengthened yesterday pushing the price of copper by one percent.
The metal traded at 6,950 US dollars per metric ton, the highest since July 26.
The rise should be seen as a relief for Zambia whose main export revenue earner is copper.
Meanwhile, the Kwacha was 10 points firmer after Wednesday’s session and still trading at similar levels as the past one week.
The local unit is still range bound and expected to end the week between the 5.430 – 5.530 levels.
And Western Province Permanent Secretary Emmanuel Mwamba has called for the establishment of strong trade links with Angola via Shangombo District.
Mr. Mwamba says there is need to establish strong links with Angola through Shangombo district in a bid to exploit the huge business potential.
He has told ZNBC’s Cosmas Chileshe in Mongu on Wednesday that Angolan authorities have approached him concerning business investments they are undertaking that could significantly benefit Zambia.
Mr. Mwamba has cited projects such as the 40 million US dollars Canal project, bridge, fuel terminal and Rail-line up to Shangombo, which the government could pickup and connect to Mulobezi district.
The Permanent Secretary says Shangombo district is poised to be a hive of activities due to exports passing through the area into Angola.
